scholarly journals Investment of the financial instruments and their influence on the exchange stock market development

2019 ◽  
Author(s):  
George Abuselidze ◽  
◽  
Anna Slobodianyk ◽  
Keyword(s):  
Stock Market ◽  
Market Development ◽  
Financial Instruments ◽  
Stock Market Development

scholarly journals The stock market infrastructure development in formation of the investment bank business model in Ukraine

2021 ◽  
Vol 5 (3) ◽  
pp. 39-51
Author(s):  
Yulia Onyshchenko
Keyword(s):  
Stock Market ◽  
Business Model ◽  
Trading Volume ◽  
Information Technologies ◽  
Market Development ◽  
Infrastructure Development ◽  
Financial Instruments ◽  
Investment Bank ◽  
Stock Market Development ◽  
Market Infrastructure

Introduction. Modern trends in the world economy development cause an objective process of increasing stock market role and stimulate forming of investment bank business model in the domestic financial markets. Aim and tasks. The aim is to determine the role of the stock market infrastructure development in formation of the investment bank business model in Ukraine. It is necessary to perform the following tasks to achieve this goal: to determinate direction of Ukrainian financial market development and to analyze dynamic of the structure of loan and investment bank portfolio in last five years which allow to evaluate forming of the investment bank business model in Ukraine; to estimate the stock market infrastructure development through its participants. Results. The analysis of the loan and investment bank portfolio structure has shown rising of banks’ interest to the operations in the stock market and forming of the investment bank business model in Ukraine. But the structure of the investment portfolio of Ukrainian banks is dominated by domestic government bonds. The main reasons of such investment structure: the low total trading volume in the stock market; the absence of other financial instruments in the stock market; the low level of stock market development through the need to form stock market infrastructure. Studying the stock market infrastructure essence has substantiated the using of institutional approach to identify the level of its development. To the infrastructure participants in the stock market it is carried out organization of trade in financial instruments, clearing institutions, depository system, information, analytical and rating agencies. The infrastructural participants of the stock market in Ukraine has been characterized and analyzed. Conclusions. The Ukrainian stock market infrastructure is actively developing in the direction of creating conditions that brings it as close as possible to European and world standards. Such situation will make foundation of the investment bank business model forming. But conducted research has shown that it is necessary, on the one side, to stimulate the increase in stock trading volume and, on the other side, to make the stock market more accessible not only to investors, but to individuals too. The development of information technologies as an integral part of the stock market infrastructure in Ukraine has been worked out.

Interest Rate, Foreign Exchange Rate, and Stock Market Development in Nigeria

2018 ◽  
Vol 9 (3) ◽  
pp. 247-253 ◽  
Author(s):  
Edward Adedoyin Adebowale ◽  
Akindele Iyiola Akosile
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
The United States ◽  
Ordinary Least Squares ◽  
Foreign Exchange Rate ◽  
Market Development ◽  
National Bureau ◽  
Stock Market Development

This research investigated the effect of interest rate and foreign exchange rate on stock market development in Nigeria. This research was centered on two research problems. First, it was whether interest rate had a significant effect on stock market development in Nigeria. Second, it was whether foreign exchange rate had a significant impact on stock market development in Nigeria. The scope of the research covered the period from 1981 to 2017. Data for this period were chosen because it covered pre and post-liberalization periods of Nigerian financial system. This research made use of ex post facto research design. Secondary data were sourced from Nigerian Stock Exchange reports, Central Bank of Nigeria statistical bulletins, and National Bureau of Statistics publications. Data were collected on Stock Market Capitalization (SMC), Prime Lending Rate (PLR) and Real Exchange Rate (RER) (Nigerian Naira in relation to American Dollars of the United States). Data analysis was carried out with Ordinary Least Squares (OLS) and Cochrane-Orcutt Iterative techniques. The findings reveal that interest rate has a significant negative effect, and foreign exchange rate has a significant positive effect on Nigerian stock market development during the period covered. It is suggested that monetary authorities should strive to formulate policies that will make interest and foreign exchange rates stable, competitive, and at a level that will stimulate the investment of funds in the stock market.

Stock Market Development And Economic Growth in Nigeria

1998 ◽  
Vol 2 (1) ◽  
pp. 33-38 ◽  
Author(s):  
John C. Anyanwu
Keyword(s):  
Economic Growth ◽  
Risk Management ◽  
Stock Market ◽  
Conceptual Framework ◽  
Corporate Control ◽  
Market Development ◽  
Political Environment ◽  
Stock Market Development ◽  
Long Run

Is the stock market development important for economic growth in Nigeria? One line of research argues that it is not; another line stresses the importance of stock market development in allocating capital, acquisition of information about firms, easing risk management, mobilization of savings, and exerting corporate control. Indeed, some theories provide a conceptual framework for the belief that larger, more efficient stock markets boost economic growth. This article examines whether there is a strong empirical association between Nigerian stock market development and long-run economic growth. Our empirical results suggest that the Nigerian stock market development is positively and strongly associated with long-term economic growth. This implies that Nigerian policymakers should make concerted efforts at removing obstacles to stock market development while creating and sustaining an enabling macroeconomic and political environment for the market’s development.

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